IDEXX Laboratories (NASDAQ:IDXX) Releases FY 2024 Earnings Guidance

IDEXX Laboratories (NASDAQ:IDXX) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 10.820-11.200 for the period, compared to the consensus earnings per share estimate of 11.120. The company issued revenue guidance of $3.9 billion-$4.0 billion, compared to the consensus revenue estimate of $4.0 billion. IDEXX Laboratories also updated its FY24 guidance to $10.82-$11.20 EPS.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $480.60 on Friday. The stock has a market cap of $39.69 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.74 and a beta of 1.27. The firm has a 50-day moving average of $525.21 and a two-hundred day moving average of $512.07. IDEXX Laboratories has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.17.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. IDEXX Laboratories’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. On average, research analysts forecast that IDEXX Laboratories will post 11.06 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on IDXX shares. StockNews.com lowered shares of IDEXX Laboratories from a buy rating to a hold rating in a research note on Thursday. Piper Sandler downgraded shares of IDEXX Laboratories from an overweight rating to a neutral rating and set a $525.00 price objective on the stock. in a research note on Tuesday, January 30th. Barclays reduced their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an overweight rating for the company in a research note on Thursday. William Blair restated an outperform rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an overweight rating in a report on Tuesday, February 6th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $580.88.

Insider Transactions at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 in the last quarter. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.